What is Cryptocurrency?

Cryptocurrency, also called virtual currency, is a digital currency that uses cryptography for security. Bitcoin is the most well-known cryptocurrency, but there are hundreds of others.

The History of CryptoCurrency

During the boom in the tech of the ’90s, there were many attempts to create a digital currency, systems like DGCash emerged in the market but inevitably failed. There were also various reasons for their failures, such as fraud, financial distress, and even discrepancies between employees of companies and their owners.

IMP NOTE

This is a very important thing to examine the history of anything that has the potential to shake up the world. The Crypto Currency certainly has that ability, which is really quite impressive for an innovation that is barely ten to Twelve years old.

Top 10 CryptoCurrency

There are many Crypto Currencies are there. It is the very biggest thing. There are About 5,392 Crypto Currencies being traded with a total market capitalization of $201bn (as of April 22, 2020).

Tins is a starting point, here are a few facts about the top 10 Crypto Currencies & some latest news for each one.

Top 10 cryptocurrencies

Bitcoin (BTC) $203bn
Ethereum (ETH) $32bn
XRP (XRP) $16bn
Litecoin (LTC) $7bn
Bitcoin Cash (BCH) $7bn
EOS (EOS) $5bn
Binance Coin (BNB) $4bn
Tether (USDT) $3bn
Bitcoin SV (BSV) $3bn
Tron (TRX) $2.3bn

BitCoin

The domain name of bitcoin was published In August 2008. An article on “Bitcoin” was released on October 31, 2008. The Peer-to-Peer Electronic Cash System”. This was authored by Nakamoto, the founder of Bitcoin. To information, no one knows who this person, or people, are.

This paper sketches a method of using a peer-to-peer digital & electronic network for electronic transactions without “relying on trust”. The bitcoin system came into existence on January 3rd, 2009. The Nakamotointelligence block the number of “0” (or the “genesis block”), which had a reward of 60 bitcoins.

Ethereum

On July 30th, 2015, the Ethereum was published by VitalikButerin. He was a big researcher and programmer working on Bitcoin Magazine, & he initially wrote a white paper in 2013 describing Ethereum. The Buterin had proposed that Bitcoin needed a scripting language. He was decided to develop a new program & platform with a more general scripting language when he couldn’t get buy-in to his proposal.

Cryptocurrency:

The development was established by an online crowd sale between July & August 2014. The organization went live with 11.9 million coins already mined for the biggest sale (about 13% of the total supply in circulation). Following the collapse of The DAO idea in 2016, Ethereum was break into two blockchains. The new type became Ethereum& the original block-chain continues as Ethereum Classic.

Ripple

The Ripple is a real-time gross settlement system developed by a Ripple company. This is also referred to as the Ripple Transaction Protocol &Ripple protocol. It can trace its roots to 2004 when a web developer is called Ryan Fugger had the project to create a monetary system that was decentralized & could effectively allow individuals to create their own money.

The EOS.IO policy was developed by personal company block. & published as open-source software on June 2nd, 2018. One billion tokens were distributed on the Ethereum blockchain by block. one. The EOS is based on a black paper published in 2017.

LiteCoin

The LiteCoin is a part of CryptoCurrency. Litecoin was released in October 2011 by Charlie Lee, the former Google worker. It was a fork of BitCoin with the main difference being a lower block generation time, increased a normal number of coins & a different script-based algorithm.& We also called it technological, digital & electronic currency.

Tether

The Tether currency was issued on the Bitcoin block-chain. We also called it digital & electronical currency. In his own words, “the teacher converts cash into a technology currency, the anchor or ‘teacher’ converts the value of a coin into the value of national currencies.”. So, the price is meant to mirror that of the US dollar & each unit of Tether is backed by $1 held in reserve.

TRON

The TRON agreement is pitched as “one of the biggest blockchain-based operating systems in the world, offering scalable, high availability & high throughput support that underlies all thedecentralisedrequest in the TRON ecosystem”.

An ICO campaign took location in September 2017 and raised US$70 million. This coin is called the TRONix (TRX).

stellar Lumens

Stellar was released in 2014 by Jed McCaleb& Joyce Kim. At released it was based on the Ripple protocol but the network eventually forked. Stellar is an open-source protocol for exchanging money where servers use the internet network to connect to & communicate with other Stellar servers, forming a global price exchange network.

What Is Binance Coin

This coin binance is denoted by BNB, is a native coin of the Binance cryptocurrency exchange that has been built on Ethereumblockchain using the ERC20 token standard. We can also call it technological electrical and digital currency. This coin Binance will issue a at most of 200 million BNB tokens. Its primary dream is to fuel the exchange operations while providing convenience and affordability to the traders & Crypto Currency enthusiasts.

This coinbinance was released in July 2017, through an Initial Coin Offering which put 20 million BNB tokens up for grabs for angel investors, 80 million for the idea contributors & remaining 100 million for several communities who take part in the ICO. The collections raised by selling BNB symbol were used for exchange development, tranding, & marketing. A percentage of the investment was also spent on adding necessary improve to the coin Binance Crypto Currency exchange.

Benefits of Binance Coin